In the past few weeks, Hilltop Consultants has seen an increase in fraudulent emails soliciting funds transfers from our clients. The requestor of the transfer will obtain information about the business in order to send a convincing request. In two recent cases, the requestor created an email address similar to the CEO of the business. They then sent an email to either the CFO or another member of the finance team. The email requested a transfer of funds to an overseas bank account.
Many businesses place the names of their management on their website. This information is also available through online directories. This makes it very easy for cyber criminals to find the information.
In another case, the requestor used a completely different email address, but used the name of the CEO in the contact information as well as the signature block.
Please instruct your finance team to be on the lookout for emails such as these. They should always question requests for funds, passwords, or other private information.